MECHELEN, BELGIUM--(Marketwire -07/24/12)- - Galapagos NV (GLPGF)announced todaythat it has identified the first pre-clinical candidate compound initsosteoarthritis alliance with Servier. The compound inhibits a novelmechanismof action discovered by Galapagos. This achievement triggered anundisclosedmilestone payment to Galapagos.
In July 2010, Servier and Galapagos announced their alliance to develop neworalmedicines for the treatment of osteoarthritis (OA). Galapagos isresponsiblefor the discovery and development of new candidate drugs, and Servier hasanexclusive option to license these after the completion of Phase Iclinicaltrials.
Galapagos retains exclusive US commercialization rights toallcompounds discovered.
"OA is a disease of high unmet medical need, and progress of OA-therapieshasbeen slow in the pharma industry. We therefore are very pleased tohavedelivered a pre-clinical candidate," said Onno van de Stolpe, ChiefExecutiveOfficer of Galapagos. "This achievement also marks the third alliance withadifferent pharma partner in which Galapagos has identified a pre-clinicalcandidate. We are now starting with all the preparations to proceedfurtherinto Phase I."
"It is a major achievement in this therapeutic area where no disease-modifyingtreatments are currently available," said Bernard Marchand, Head ofDiscoveryResearch at Servier. "We are looking forward to seeing this compoundhopefullyenter the clinic after successful completion of the remaining pre-clinicalrequirements and are encouraged in our efforts to change the lives ofpeoplesuffering from this debilitating disease."
About Galapagos' osteoarthritis alliance with Servier
The alliance between Servier and Galapagos builds on novel osteoarthritisdrugtargets discovered by Galapagos through its proprietary platform. Foranymarketed products, Servier will have the rights to development, registrationandcommercialization, but Galapagos retains exclusive U.S.commercializationrights.
Galapagos is also eligible to receive discovery,development,regulatory and other milestone payments that could reach EUR290 million,plusroyalties upon commercialization of products outside the U.S. covered undertheagreement.
Osteoarthritis (OA) is the most common form of arthritis, typicallyaffectingpeople aged 45 and older. It is a degenerative disease characterized byjointdestruction and loss of cartilage. No currently available treatments preventOAor even reverse or block the disease process. Treatment of OA involvesweightcontrol, exercise, and pain relief, most frequently with non-steroidalanti-inflammatory drugs (NSAIDs) that relieve the symptoms withoutchanging thecourse of the underlying disease. Many OA patients have pain thatpersistsdespite these measures and often then have to undergo costly surgicalproceduresto replace their damaged joints. It is expected that with the aging ofthepopulation, more individuals will be prone to develop OA. As mobilityofseniors is of high importance to maintaining a high quality of life,preventingthe severity of OA is seen as an immense clinical need over the next decade.
Servier is a privately-run research based pharmaceutical company with a2011turnover of EUR3.9 billion. Servier is dedicating 25% of its turnover toResearch& Development in cardiovascular, metabolic, neurological, psychiatric andboneand joint diseases as well as oncology. Servier is established in 140countriesworldwide with over 20,000 employees. More info at: www.servier.com
Galapagos (GLPGF) (GLPYY) is a mid-sizebiotechnology companyspecialized in the discovery and development of small molecule andantibodytherapies with novel modes-of-action. The Company is progressing itsJAK1inhibitor GLPG0634, as well as one of the largest pipelines in biotech,withfour programs in development and over 30 discovery programs. TheGalapagosGroup has about 800 employees and operates facilities in six countries,withglobal headquarters in Mechelen, Belgium. More info at: www.glpg.com
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